23. February 2010 by Christi Reece.

Jeff White, Western Colorado manager of Wells Fargo Home Mortgage, spoke to our company last week. He said the Grand Junction offices had their biggest year ever in 2009. However, the percentage of purchase loans was one of the lowest ever, so the refinancing was the bulk of the business. They are budgeting for a 25% increase in purchase loans for Western Colorado for 2010. And they are predicting that when the government stops artificially keeping interest rates low, that they will start to climb significantly, to as much as 6 3/8 by year’s end. - Christi Reece

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18. February 2010 by Christi Reece.

According to the third quarter Housing Market Analysis conducted by National City Corp. on the most overvalued housing markets in the US, Grand Junction, Colorado comes in 61st place.  According to this study, the typical home in this market is overvalued by 31%.  This study indicated that sixty-five of the nation’s 299 largest real estate markets are severely overpriced and subject to possible price corrections. - Kelley

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13. February 2010 by Christi Reece.

We’re all looking to save some money, but let’s save some energy too.

Around the Home – Energy Saving Tips

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RISMEDIA, February 13, 2010—The Alliance to Save Energy offers the following no-cost/low-cost energy efficiency tips for homeowners across the country who are looking to reduce their home heating costs while maintaining comfort.

Conduct a “draft check.” Your heating dollars could be going out your windows, doors and electrical outlets. Check for air leaks throughout your home; check around doors, windows, fixtures, electrical outlets, wiring, plumbing and fireplace dampers. Draft-proofing is the least expensive energy efficiency investment with the biggest payoff.

Plug those air leaks. Seal leaks between doors or windows and their frames with weather stripping and between window frames and walls with sealant or caulk.

Install door sweeps on the insides of exterior doors. Cold air can seep in under doors. Solution: Door sweeps are cheap and keep the draft out. No sweeps available? Even a rolled up towel or blanket will help. And consider twin or dual draft guards on both sides of doors where you feel drafts.

Open curtains and other window treatments on your west- and south-facing windows during the day to allow sunlight to naturally heat your home, and close them at night to make it harder for warm air to escape. If you are purchasing new drapes, consider an insulated lining, which reduces both heating and cooling bills.

Freezing by your windows? If that’s the case, and you’ve already plugged window leaks and can’t afford new high-efficiency windows, consider purchasing a kit containing sheets of plastic film to tape over the insides of your windows. Use a hair dryer to create a tight fit.

Consider insulating drafty electrical outlets. Use light switch foam insulation pads and wall jack foam insulation pads on outlets on colder exterior walls.

You’re not in the South Seas. Don’t turn up the heat so high that you can be comfortable dressed in a T-shirt and going barefoot. Even when indoors, dress for winter weather and layer clothing so that you can keep the thermostat at a reasonable yet comfortable temperature. It’s a good time to wear those sweaters you received as holiday gifts.

Consider a space heater for the room where you spend a lot of time. But keep in mind that this makes sense from an energy standpoint only if you reduce heating in other rooms.

Keep furnace filters clean. Check and change your filter every month during heavy-use winter months to assist air flow, so your system doesn’t have to work harder to keep you warm.

Seal your heating and cooling ducts. In a typical house with a forced air system, about 20% of the air that moves through the duct system is lost due to leaks, holes and poorly connected ducts. Sealing and insulating ducts increases their efficiency, lowers home energy bills and can often pay for itself in energy savings. Insulate ducts in unheated areas such as attics, crawlspaces and garages with duct insulation that carries an R-value of 6 or higher. Also, a well-designed and sealed duct system may make it possible to downsize to a smaller, less costly heating and cooling system that will provide better dehumidification.

Let a programmable thermostat “remember for you” to lower the heat while your home is empty and/or overnight to reduce heating costs by up to 10%- and allow you to come home and wake up to a toasty, comfortable house.

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8. February 2010 by Christi Reece.

The unexpected lapse of the estate tax for 2010 is causing problems. Will lawmakers reinstate it retroactively to January 1st? Wills drafted with formula clauses for heirs may need to be rewritten. - Linda Gilmore. Can river rafters and fisherman share the waters? The debate is once again being discussed in Colorado, and there is a hearing at the state capitol. Support your right to raft Colorado’s rivers by joining the Facebook group: Support Commercial Rafters Viability Act.Grand Junction was recently named  #1 - in job losses that is, for 2009. While that news may sound dire, in actuality we are just catching up with the rest of the country. In 2008 we were still hiring, while the rest of the country was already suffering.  So of course when our own community entered the recession for real, we were one of the few communities in the country who hadn’t already had huge job losses. Hopefully we will not lag behind the rest of the country again, as we emerge from the recession this year. - Christi Reece

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28. January 2010 by Christi Reece.

I  just returned from the quarterly Grand Junction Area Realtor’s Association luncheon, where the speakers were all very positive about the future of the Grand Junction real estate market. Rob Griffin, President of the local Home Builders Association, spoke about low building costs, low land costs, and availability of builder and subcontractors, making this an ideal time to build a new home. He stressed that builders are going to have to change the way they have built in Grand Junction, stressing, as I have been, the need to build energy efficient homes!! He believes that energy efficiency will be mandated by the government before too long, so it’s time for GJ builders to get on board! If anyone out there is considering building, call me. I have worked with some great builders who know how to build a superior home.The second speaker was Ann Driggers of the Grand Junction Economic Partnership. She had some great information and statistics, in addition to a positive outlook for GJ. So even though 2009 was not what we hoped, GJ is now a much more attractive place to start a business, since there are more workers available, wages are down, and land costs are down. She is very optimistic about bringing new businesses to this area. American Furniture Warehouse is one example of an established business seeing the opportunities to be had in our valley. Cabela’s is also coming in soon.Colorado Realtor Association President George Harvey also spoke, and said we are seeing  a lot of investing going on in Colorado. Low prices and high availability are driving outside buyers to take another look at Colorado.I’ve said it before, but I want to keep emphasizing to all our clients that 2010 is going to be a great time to buy real estate. Ten years from now, you’ll be saying “I wish I’d bought that property back in 2010, when it only cost…”. Don’t say I didn’t tell you!Christi

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9. January 2010 by Christi Reece.

I am excited to announce that I have just become a member of a real estate team here at Bray Real Estate. I have joined Linda Gilmore and Kelley Burford, and we will now be known as the Gilmore-Burford-Reece Team. Linda and Kelley are both Grand Junction natives, and have become household names in Grand Junction Real Estate. Linda has been selling for over 20 years, and Kelley for over 7, after a lengthy career in banking. With our combined experience, market knowledge, and sales records, we will ready to help you buy or sell your Western Colorado Real Estate!

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9. January 2010 by Christi Reece.

This article from Bruce Buckley is from the Mountain States Construction website. We’re looking forward to some renewed building activity in 2010.

After three years of declines, the construction market may be eyeing a rebound in 2010 thanks to a much-improved residential market, but for designers and contractors in other building sectors, it could be too soon to celebrate.

Bob Murray, vice president of economic affairs for McGraw-Hill Construction, speaking at the Outlook 2010 Executive Conference, told participants that the 2010 market will experience a slow upward climb.

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McGraw-Hill Construction is forecasting that total construction starts will climb 11% to $466.2 billion in 2010, following an estimated 25% decline in 2009.

After a 39% drop in construction between 2006 and 2009, an improving residential market and signs of strength in select public-sector markets such as transportation and infrastructure could spark an overall turnaround in 2010, says Bob Murray, vice president of economic affairs for McGraw-Hill Construction.

“This is not a booming market; it is just inching upward,” Murray says.

Single-Family Stability The main buoy for the industry is single-family housing, which could rise 30% from an estimated 430,000 units started in 2009 to 560,000 starts. That would be on par with 2008, when 549,000 units were started.

Murray says that even with the rebound, levels remain 65% below the mid-decade peak of the housing boom. Murray adds that his residential forecast hinges on continued low mortgage rates and the extension of first-time homebuyer tax credits.

The outlook on multifamily housing remains mixed. Murray sees activity rising from 140,000 units started in 2009 to 160,000 units in 2010—a 14% rise. Although the sector could rebound, activity remains nearly three times below 2007 levels when 452,000 units were started.

Ed Sullivan, chief economist at the Portland Cement Association, is less optimistic about multifamily projects. He predicts that a comeback won’t be seen until 2011.

Although 2009 was a challenging year, the worst is yet to come in nonresidential building sectors, analysts forecast. According to McGraw-Hill Construction estimates, the commercial and manufacturing sectors could continue to struggle next year with an estimated 6% drop in combined value of starts to $55.5 billion—nearly half the level seen in 2007.

Sullivan sees the market sliding even further, down 22% in 2010, and doesn’t expect a rebound until 2012.

“If you look at vacancy rates, the job market, issues with credit—the fundamentals will take a while to come back,” he says.

Murray estimates that office building starts will ease back another 3% in 2010 to $19.7 billion in starts, as employment remains weak and businesses curtail expansions.

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6. November 2009 by Christi Reece.

Read the news about the tax credit being extended for homebuyers. We can sure use it around here!Click Here

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9. October 2009 by Christi Reece.

Have you heard about this yet? If you have an iPhone, you can already download some pretty amazing stuff. Check out this story for more info: http://blog.newsweek.com/blogs/techtonicshifts/archive/2009/10/08/augmented-reality-apps-iphone-android.aspx. Soon, you could be walking in downtown Grand Junction, wondering where to eat, and pull out your phone for some ideas. Hold it up and scan around the area, and your phone will give you details on the restaurant you are holding your phone in front of. It might even tell you if they are having a special, or offering coupons. Get ready for the next revolution. My friend Sam Williams of WB Builders in GJ is building a new commercial structure downtown on Grand Ave. He says it’s going to be the most energy efficient commercial building in town. I’ll get some details from Sam and post them shortly. One more small step towards bringing GJ into the modern world.  

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28. September 2009 by Christi Reece.

Check out this story from MSNBC: http://www.msnbc.msn.com/id/32970895/ns/business-forbescom/

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